VANCOUVER, BC / ACCESS Newswire / October 27, 2026 / First Canadian Graphite Inc. (TSXV:FCI)(OTCQB:GRAPF) ("FC graphite" or the "Company") announced the official receipt of its Authorization for Impact-Causing Exploration Work ("ATI") from the Ministère des Ressources naturelles et des Forêts for its Lac Guéret South Graphite Project in Québec's Manicouagan region. The ATI permit allows the Company to commence its Phase III exploration program at its high-priority Zone 13 graphite target, which will include mechanized trenching and diamond drilling scheduled for fall 2026.

The Phase III program will test the subsurface continuity of high-grade graphite mineralization mapped over approximately 3.3 kilometres of strike. Surface sampling has returned assays of up to 43.4% graphitic carbon ("Cg"), with 45.7% of the 46 samples exceeding 15% Cg, including 14 samples exceeding 20% Cg (see the Company's news releases dated July 30, 2026, and August 20, 2026).

"This ATI authorization will allow us to test if there is a depth continuity of a target that has already returned encouraging graphite grades along a substantial surface strike length and EM results that suggest mineralization to depth," said John LaGourgue, FC graphite's President and CEO. "With ground access restored, we can begin stripping and channel sampling in mid-November, immediately followed by approximately 20,000 metres of diamond drilling within an overall planned budget of C$6,500,000 over 5-6 months. The completed program will help demonstrate mineralized thicknesses, grade distribution and continuity at depth. Zone 13 remains the Company's highest-priority target. Results will be reported as they are received and compiled, with initial releases expected in early 2027."

Phase II's highly successful Prospectair Mag-EM survey expanded the Phase I conductive footprint into a multi-kilometre system "Z-Fold" while identifying additional conductive extensions east, north and northwest of the original Zone 13 outline, as well as including a large interpreted southern fold nose. Their graphite content, continuity and relative size remain to be tested (see the Company's news release dated September 22, 2026). Based on the results of this evaluation, the Company may include these zones in the Phase III program. Their graphite content, continuity and relative size remain to be tested (see the Company's news release dated September 22, 2026).

The Authorization for Impact-Causing Exploration Work ("ATI") is required for mechanized exploration and is a prerequisite step for the Phase III program. Obtaining the permit involves presenting the proposed work to the municipalities, Indigenous communities and neighbouring stakeholders concerned, as well as documenting these consultations for submission to the Ministry.

The ATI applies exclusively to exploration activities and does not authorize mine development or mining operations.

Qualified Person

The technical information in this news release has been reviewed and approved by Antoine Fournier, M.Sc., géo, Vice President Exploration for FC graphite and a Qualified Person under National Instrument 43-101 - Standards of Disclosure for Mineral Projects.

About FC graphite

FC graphite is engaged in the exploration of critical minerals and is committed to advancing its Lac Guéret South high-grade graphite property to support applications in energy transition and advanced technologies.

The Lac Guéret South Project (formerly the Berkwood Project) borders Nouveau Monde Graphite's Uatnan graphite project in the southwest Manicouagan reservoir area, approximately 234 km north-northwest of Baie-Comeau in Québec's Côte-Nord region, on the Nitassinan (ancestral territory) of the Pessamit Innu. FC graphite remains dedicated to cultivating respectful, transparent, and cooperative relationships with the Pessamit Innu First Nation and local Indigenous communities at every stage of the project's development. The project is approximately three hours by all-weather road from the deep-water Port of Baie-Comeau on the St. Lawrence shipping corridor.

Recent work at Zone 13 has outlined a significant new high-grade graphite-bearing anomaly with a strike length of 10 km+ and widths exceeding 150 m. Prospecting on this discovery has returned surface and near-surface high-grade graphite, 46 samples were collected from Zone 13 and yielded grades up to 43.4% Cg, with 30% of samples above 20% Cg. Refer to the Company's press releases dated July 30, 2026 and August 20, 2026.

The Company's land claims and optioned ground now exceed 236 km², establishing one of the most extensive claim portfolios in the Lac Guéret Graphite District. With more than $10 million invested to date and significant exploration upside remaining, First Canadian Graphite is focused on expanding resources and advancing the project toward a Preliminary Economic Assessment (PEA).

On Behalf of the Board of Directors
First Canadian Graphite Inc.

Signed:
John LaGourgue, CEO & Director

For more information, contact:
info@FCGraphite.com
(604) 838-3376
https://fcgraphite.com/

Cautionary Note Regarding Forward-Looking Information

This news release contains "forward-looking information" within the meaning of the applicable Canadian securities legislation that is based on expectations, estimates, projections and interpretations as at the date of this news release. The information in this news release about the Company; and any other information herein that is not a historical fact may be "forward-looking information" ("FLI"). All statements, other than statements of historical fact, are FLI and can be identified by the use of statements that include words such as "anticipates", "plans", "continues", "estimates", "expects", "may", "will", "projects", "predicts", "proposes", "potential", "target", "implement", "scheduled", "intends", "could", "might", "should", "believe" and similar words or expressions. FLI in this new release includes, but is not limited to the Company's ability to successfully fund, or remain fully funded for the implementation of its business strategy and for exploration of any of its projects (including from the capital markets), and the expected timing of announcements in this regard. FLI involves known and unknown risks, assumptions and other factors that may cause actual results or performance to differ materially.

The FLI in this news release reflects the Company's current views about future events, and while considered reasonable by the Company at this time are inherently subject to significant uncertainties and contingencies. Accordingly, there can be no certainty that they will accurately reflect actual results. Assumptions upon which such FLI is based include, without limitation: the Company's, ability to implement its overall business strategy and to fund, explore, advance and develop each of its projects, including results therefrom and timing thereof, the impact of increasing competition in the mineral exploration business, including the Company's competitive position in the industry, and general economic conditions, including in relation to currency controls and interest rate fluctuations.

The FLI contained in this news release are expressly qualified in their entirety by this cautionary statement, the "Forward-Looking Statements" section contained in the Company's most recent management's discussion and analysis (MD&A), which is available on SEDAR plus at www.sedarplus.ca. All FLI in this news release are made as of the date of this news release. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on such forward-looking information.

The Company does not undertake to update or revise any forward-looking information contained herein to reflect new events or circumstances, except as may be required by applicable securities laws.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this News Release.

SOURCE: First Canadian Graphite Inc